Consolidated Statements of Operations (Unaudited) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | |||||
|---|---|---|---|---|---|---|---|
Jun. 30, 2023 |
Jun. 30, 2022 |
Jun. 30, 2023 |
Jun. 30, 2022 |
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| Income Statement [Abstract] | |||||||
| Net sales | $ 3,251 | $ 4,483 | $ 6,607 | $ 8,539 | |||
| Cost of sales | 2,609 | 3,038 | 5,173 | 5,809 | |||
| Gross profit | 642 | 1,445 | 1,434 | 2,730 | | ||
| Selling, general and administrative expenses | 213 | 220 | 435 | 420 | | ||
| Amortization of intangibles | 30 | 43 | 61 | 85 | | ||
| Restructuring, transaction and integration-related costs | 3 | 7 | 6 | 18 | | | |
| Total Operating Expenses | 246.0 | 270.0 | 502.0 | 523.0 | 0 | |
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| Income from operations | 396 | 1,175 | 932 | 2,207 | | ||
| Other income (expense) | | ||||||
| Interest expense | (42) | (44) | (84) | (90) | | ||
| Total Other Income Expenses | -19.0 | -27.0 | -39.0 | -62.0 | 0.0 | |
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| Other income, net | 23 | 17 | 45 | 28 | | | |
| Income before income taxes | 377 | 1,148 | 893 | 2,145 | | ||
| Provision for income taxes | 70 | 275 | 179 | 508 | | ||
| Net income | 307 | 873 | 714 | 1,637 | | ||
| Net income attributable to noncontrolling interests | 10 | 15 | 23 | 23 | | ||
| Net income attributable to Westlake Corporation | $ 297 | $ 858 | $ 691 | $ 1,614 | |||
| Earnings per common share attributable to Westlake Corporation: | |||||||
| Basic (in dollars per share) | $ 2.32 | $ 6.65 | $ 5.39 | $ 12.52 | |||
| Diluted (in dollars per share) | $ 2.31 | $ 6.60 | $ 5.35 | $ 12.43 | |||
| Weighted average common shares outstanding: | |||||||
| Basic (in shares) | 127,649,341 | 128,341,132 | 127,599,093 | 128,206,988 | |||
| Diluted (in shares) | 128,484,016 | 129,341,096 | 128,471,760 | 129,134,246 | |||
| X | ||||||||||
- Definition The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets. As a noncash expense, this element is added back to net income when calculating cash provided by or used in operations using the indirect method. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The aggregate costs related to goods produced and sold and services rendered by an entity during the reporting period. This excludes costs incurred during the reporting period related to financial services rendered and other revenue generating activities. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of Net Income (Loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition The net result for the period of deducting operating expenses from operating revenues. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The aggregate total costs related to selling a firm's product and services, as well as all other general and administrative expenses. Direct selling expenses (for example, credit, warranty, and advertising) are expenses that can be directly linked to the sale of specific products. Indirect selling expenses are expenses that cannot be directly linked to the sale of specific products, for example telephone expenses, Internet, and postal charges. General and administrative expenses include salaries of non-sales personnel, rent, utilities, communication, etc. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Restructuring Transaction and Integration Cost No definition available.
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